Indian Gold Price UP Rs. 500 In 2 Days, Check Gold Rates In Major Cities

Gold prices are up by Rs. 500/10 grams in the past two days in India. Today, on August 25, the 22-carat gold rate stood at Rs. 47,500/10 grams, and 24-carat gold rate stood at around Rs. 51,820/10 grams, gaining by Rs. 250-270/10 grams. Following the strong global outlook, the Indian gold market is also showing a sharp upward trend this week, before the Jackson Hole symposium, where the US Federal Reserve's Chair Jerome Powell can signal its upcoming monetary policy.

"He (Powell) may try to send a clear message that even if they have a slower pace of rate hikes, that won't signal a lower peak rate or that they will be quick to cut rates. After this week, Wall Street should not be surprised if Fed fund futures start pricing in rate hikes for next year. This could be the week many return from vacation and double down on their bear market rally calls," OANDA senior market analyst Edward Moya told Kitco News.

Gold rates are quoted differently, daily. Today's gold rates in major Indian cities follow:

City	22 carat (INR/10 Grams)	24 carat (INR/10 Grams)
Mumbai	47,500/-	51,820/-
Hyderabad	47,500/-	51,820/-
Kerala	47,500/-	51,820/-
Kolkata	47,500/-	51,820/-
Delhi	47,650/-	51,980/-
Bangalore	47,550/-	51,870/-
Chennai	48,300/-	52,690/-

Today, the Comex gold futures were quoted at $1,770.50/oz, gaining by 0.51%, from the last trading day. Yesterday it was last quoted at $1,761.50/oz. The yellow metal fell by 3.87% this year in the futures market. The spot gold prices were last quoted at $1757.90/oz, gaining by 0.31%, from the last trading day. The US Dollar index is quoted at 108.47, falling by 0.15%. In India, the Mumbai Commodity Exchange (MCX) gold in October future was quoted at Rs. 51714/10 grams, gaining by 0.53%, from the last trading day.